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☆ A software consultant trading stocks on the side is up 318% in 2024. He shares the stock screener he uses to find the trades he makes.
▼ + stars: | 2024-05-11 | by ( Laila Maidan | ) www.businessinsider.com time to read: +8 min

He was 13 when he first heard about trading stocks. Finally, he filters for volume with the "50-day average volume"— the average number of shares traded daily over 50 days — above 25,000 shares. He had been watching Nvidia's chart since December, and it had a consistent 200-day moving average trend upward. As of January 3rd, it held above its 50-day moving average, bouncing off resistance points around $8.83 and $8.94 with minor pullbacks. The stock had a strong 150- and 200-day average uptrend.

Persons: Leoš, Benjamin Graham's, William O'Neil, Mark Minervini, Norman Zadeh, Mikulka Organizations: Investor's, Gamestop, US, Business, Apple, Nvidia, Mitsubishi UFJ Financial, Holdings Locations: Prague, IBD

☆ Dollar steadies, yen pinned near 152
▼ + stars: | 2024-04-03 | by ( ) www.cnbc.com time to read: +4 min

The dollar was steady on Friday after data showed U.S. inflation remained sticky but easing gradually, keeping alive the chance of the Federal Reserve cutting rates in June, while the yen slid back to the key 150 per dollar level. The dollar was on the front foot on Wednesday, pinning the yen near its lowest in decades though the heightened threat of currency intervention by Tokyo capped further declines in the Japanese currency. The yen was last at 151.585 per dollar, languishing near last month's slump to 34-year lows of 151.975 in the wake of the Bank of Japan's historic policy shift. The dollar , which on Tuesday touched a nearly five-month high of 105.10 against a basket of currencies, was last steady at 104.76. "I think the dollar will hold up pretty well in the near term, and that will be a headwind for the other major currencies."

Persons: Morgan Stanley, Koichi Sugisaki, Sterling, Carol Kong, CBA's Organizations: Federal Reserve, Bank of, Ministry of Finance, U.S ., U.S, Commonwealth Bank of Australia, Traders, Fed, New Locations: Tokyo, Japan, U.S, CBA's Kong, New Zealand

☆ MUFG analyst says these tri-factors will propel gold prices to new highs
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMUFG analyst says these tri-factors will propel gold prices to new highsEhsan Khoman of MUFG Bank explains his bullish calls on gold.

Persons: Ehsan Organizations: MUFG Bank

☆ Japan's market is hitting record highs. What to know about the rally and how to play it
▼ + stars: | 2024-03-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

U.S. equities aren't the only ones on a bull run — the Japanese stock market is also enjoying an upward climb. "It is the case that the Japanese stock market remains almost exclusively driven by foreign money," Jefferies head of global equity strategy Christopher Wood wrote in a March 7 note. According to Wood, foreign investors now own almost a third of the Japanese stock market, a dramatic rise from the 4% level in 1989, when the asset bubble reached its peak. Morgan Stanley noted that quality stocks have outperformed the broader market so far in 2024. Transitioning out of deflation Rate policy has been another big factor in the recent market rally.

Persons: Jefferies, Christopher Wood, Wood, Goldman Sachs, Morgan Stanley, Makoto Furukawa, Ryota Sakagami, Citi's Sakagami Organizations: Nikkei, Global, Retailing, Holdings, Toyota Motor, Subaru, Mitsubishi, Citi, Japan, U.S, Bank of Locations: Japan, U.S, Tokyo, Bank of Japan

☆ Japan is facing 'major, major' demographic issues, says Morgan Stanley economist
▼ + stars: | 2024-03-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapan is facing 'major, major' demographic issues, says Morgan Stanley economistRobert Feldman, chief economist at Morgan Stanley MUFG Securities, says Japan's social and medical policies will be "critical" in addressing the issue.

Persons: Morgan Stanley, Robert Feldman, Morgan Organizations: Japan, Morgan Stanley, Securities

☆ MUFG discusses ECB rate cut outlook
▼ + stars: | 2024-01-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAs long as 'actual inflation' falls to 2%, ECB can implement rate cuts: MUFG head of commoditiesEhsan Khoman of Mitsubishi UFJ Financial Group discusses Europe's interest rate outlook for 2024.

Organizations: ECB, Mitsubishi UFJ Financial

For its biggest banks, however, there's a hitch: a generation of professional front-line staff have little experience with rising interest rates. The 38 members, which include credit dealers and data scientists, work to improve coordination between retail and wholesale divisions, as higher rates are expected to fuel trading activities. Still, if higher rates are new to most bankers, so they are for their clients, who have for years enjoyed rock bottom rates in Japan. "Almost no front-line bankers have experienced short-term rates above 0.5% as Japan last saw such rates in the 1990s," he said. "I think there are a lot of scepticism among front-line bankers over whether they can really increase their lending rates."

Persons: Masahiro Minami, they've, Izuru Kato, Kato, Satoru Yamamoto, Atsushi Kikuchi, Tokyo Tanshi's Kato, Makiko Yamazaki, Ritsuko Shimizu, David Dolan Organizations: MUFG Bank, TOKYO, Resona Holdings, Reuters, Bank, Mitsubishi, Daiwa Securities, Mizuho Financial, Mizuho, Thomson Locations: Japan, Tokyo

[1/2] A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. Cooler-than-expected U.S. inflation data on Tuesday and Wednesday hastened market expectations for how soon the Federal Reserve will cut rates. Such a move would weaken a major dollar support and could come as early as next year's first quarter. The yen - punished broadly this year by dollar strength - broke the 150 mark for the first time in nearly two weeks, gaining 0.69% to 149.68 to the dollar. Japanese authorities do not have specific exchange-rate levels in mind when deciding when to intervene in the currency market, Deputy Finance Minister Ryosei Akazawa told parliament on Friday.

Persons: Marcos Brindicci, Bipan Rai, Thierry Wizman, Wizman, Ryosei Akazawa, Lee Hardman, Robert Holzmann, Joachim Nagel, Christine Lagarde, Herbert Lash, Iain Withers, Rae Wee, Tom Westbrook, Alexander Smith, Matthew Lewis Organizations: REUTERS, Federal Reserve, CIBC Capital Markets, FX, Eurostat, European Central Bank, Thomson Locations: Buenos Aires, Argentina, North America, Toronto, United States, Macquarie, New York, Britain, London, Singapore

[1/2] A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. Cooler-than-expected U.S. inflation data on Tuesday and Wednesday reset market expectations for how soon the Federal Reserve will cut rates and weighed on the dollar. The greenback is poised for its biggest weekly drop since July, down 1.6% over the past five days, and second-biggest decline this year. Data that showed U.S. single-family homebuilding increased marginally in October briefly supported the dollar, but with inflation the main market driver it remained lower on the day. The euro was up 0.17% at $1.0868 after Eurostat data confirmed year-on-year inflation in the euro zone slowed sharply in October.

Persons: Marcos Brindicci, Bipan Rai, Thierry Wizman, Wizman, Lee Hardman, Robert Holzmann, Joachim Nagel, Christine Lagarde, Herbert Lash, Iain Withers, Rae Wee, Tom Westbrook, Mark Potter, Kirsten Donovan Organizations: REUTERS, Federal Reserve, CIBC Capital Markets, FX, Eurostat, European Central Bank, Thomson Locations: Buenos Aires, Argentina, North America, Toronto, United States, Macquarie, New York, Britain, London, Singapore

☆ Euro finds footing on hawkish policy remarks, lower energy prices
▼ + stars: | 2023-11-09 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The Australian dollar fell 0.5% overnight and was last at $0.6405, just above its 50-day moving average. It seems set for its largest weekly fall since June, as the central bank appeared to raise the bar for further hikes after lifting rates on Tuesday. In Asia, China's yuan touched a two-month high in overnight offshore trade. China's consumer prices fell in October, data showed on Thursday, stoking expectations for lower interest rates.

Persons: Dado Ruvic, Gabriel Makhlouf, Joachim Nagel, Jane Foley, Mario Draghi, Brent, Ping, Michael Wan, Jerome Powell, Tom Westbrook, Christian Schmollinger Organizations: REUTERS, Central Bank's, Bank of Japan, Rabobank, Treasury, New Zealand, Canadian, Italian, ECB, Financial, Reuters, Ping An Insurance Group, HK, MUFG, Bank of Israel, Thomson Locations: SINGAPORE, Ireland's, U.S, Asia, Europe, Singapore, East, Gaza City

☆ Crack in US dollar strength to spread as economy slows: Reuters poll
▼ + stars: | 2023-11-08 | by ( Hari Kishan | ) www.reuters.com time to read: +4 min

Suggesting the current dollar weakening trend has further to go, a near two-thirds majority of analysts, 28 of 45, who answered a separate question said the dollar is likely to trade lower than current levels against major currencies by year-end. The euro zone economy shrank 0.1% last quarter and is expected to flat-line in this one, barely skirting a recession. The Japanese yen, the worst-performing major currency for the year, is expected to remain under pressure in the near-term. The yen is expected to gain over 10% to change hands at 136/dollar in a year, the poll showed. Emerging market currencies are expected to take well into next year to post noticeable gains against a retreating U.S. dollar.

Persons: Florence Lo, we’ve, ”, Lee Hardman, “ It’s, we’re, Simon Harvey, Sterling Organizations: REUTERS, Federal Reserve, MUFG, Futures Trading, U.S, “ Locations: BENGALURU, U.S, Europe

☆ Goldman says Bank of Japan's policy tweak is good news for banks — and names top picks in the sector
▼ + stars: | 2023-11-07 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

She noted that a flexible YCC "may be conducive to a more controlled yield rise since there's no more line in the sand to go against." Elsewhere, Kuroda wrote in notes to CNBC that Japanese banks "remain in focus as a beneficiary" of BOJ's interest rate normalization. A more flexible interest rate on BOJ operations may allow for a controlled rise in long-term yields, Kuroda said in notes to CNBC. "This might make it easier for banks to buy or reinvest JGB portfolio at higher yields." Japanese bank stock picks Goldman Sachs continues to name conviction list stock Mitsubishi UFJ Financial Group (MUFG) and Mizuho as its top picks from the Japanese banking sector.

Persons: Goldman Sachs, BOJ, Makoto Kuroda, CNBC's, Kuroda, Yuka Azami, MUFG, Goldman, CNBC's Naman Tandon, Lim Hui Jie Organizations: CNBC, Mitsubishi UFJ Financial, Mizuho, Tokyo Stock

☆ Japan's labor market shortage has gotten 'extraordinarily serious,' says Morgan Stanley economist
▼ + stars: | 2023-10-31 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapan's labor market shortage has gotten 'extraordinarily serious,' says Morgan Stanley economistRobert Feldman, chief economist of Morgan Stanley MUFG Securities, discusses Bank of Japan policy and the challenges the country's labor market faces.

Persons: Morgan Stanley, Robert Feldman Organizations: Securities, Bank, Japan

☆ From a likely recession to a weakening shekel, here's how the conflict with Hamas is impacting Israel's economy and markets
▼ + stars: | 2023-10-19 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

The conflict with Hamas that began October 7 will have widespread financial implications for Israel. A top Israeli economist said a recession in Israel is likely, and Fitch put the country's credit rating on watch for downgrade. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Yet in less than two weeks, Israel's shekel has weakened about 4.8% to hit multi-year lows against the dollar. The Financial Times reported Tuesday that Bank of Israel deputy governor Andrew Abir said policymakers would prioritize stabilizing the currency over growth.

Persons: Fitch, —, Joe Biden, Benjamin Netanyahu, Joseph Zeira, Zeira, Israel's shekel, Andrew Abir, Lee Hardman Organizations: Hamas, Service, Tel, Israel's Defense Forces, Hebrew University, CNBC, Bank of Israel, Traders, Deutsche Bank, Financial Times, MUFG Bank Locations: Israel, Palestinian, Tel Aviv, Gaza, Israeli, Iran

Donald Tusk, leader of the largest opposition grouping Civic Coalition (KO), speaks after the exit poll results are announced in Warsaw, Poland, October 15, 2023. The incumbent Law and Justice (PiS) party has repeatedly clashed with the European Union over the rule of law, media freedom, migration and LGBT rights since it swept to power in 2015. An Ipsos exit poll published early on Monday gave PiS 36.6% of the vote, which would translate into 198 lawmakers in the 460-seat lower house of parliament. On Monday, Duda urged patience until the full election results were known. However, with the far-right Confederation seen winning just 6.4%, below expectations, according to the exit poll, PiS will struggle to forge a new government.

Persons: Donald Tusk, Kacper, Donald Tusk's, Tusk, Lee Hardman, Andrzej Duda, Duda, PiS, Wladyslaw Kosiniak, Kamysz, beholden, Iga Frackiewicz, Lidia Kelly, Alan Charlish, Gareth Jones Organizations: Civic Coalition, REUTERS, EU, Justice, European Union, European, Polish Peasants ' Party, Thomson Locations: Warsaw, Poland, WARSAW, Brussels, Europe, Polish, Wrocław, Gdansk, Melbourne

☆ Goldman Sachs says Japan is a 'bright spot' right now and reveals some top stocks
▼ + stars: | 2023-10-10 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Goldman Sachs is bullish on Japan right now and says banks in particular are seeing a "high level of interest" following rallies of around 30%. There have also been "fundamental earning power improvements at the banks that have gone under-appreciated by the market," she added. The Bank of Japan maintained its ultra-loose monetary policy and left rates unchanged in September. Japanese bank stock picks Goldman Sachs' picks from the Japanese banking sector include conviction list and "value in action" stock Mitsubishi UFJ Financial Group (MUFG) , as well as Mizuho . 8411.T-JP YTD mountain Year-to-date share movement in Mizuho bank The bank has buy calls on both stocks and increased their price targets in a Sept. 18 note.

Persons: Goldman Sachs, Makoto Karuda, CNBC's, Kaurda, Karuda, Goldman, CNBC's Naman Tandon Organizations: Bank of, Tokyo Stock, The Bank of Japan, Tokyo, Mitsubishi UFJ Financial, Mizuho, New York Stock Exchange Locations: Japan, Mizuho

[1/2] A man walks past a signboard of Mitsubishi UFJ Financial Group and MUFG Bank at its headquarters in Tokyo, Japan April 3, 2018. Globally bonds have been heavily sold for weeks - prompting the Bank of Japan to step in to steady the JGB market - as investors reckon on interest rates around the world staying elevated. The lingering concerns, coupled with the prospect of further central bank policy tweaks, are likely to keep investors on guard against buying JGBs," he said. Even if the BOJ raises short-term rates, it will probably have to maintain the YCC framework to avoid any abrupt rise in long-term interest rates, Seki said. The BOJ will have no choice but to engage with long-term rates "because the complete removal of a target band could cause volatility in yield curve and sharp spikes in long-term interest rates," he said.

Persons: Toru Hanai, Hiroyuki Seki, Seki, Makiko Yamazaki, Ritsuko Shimizu, Leika Kihara, Muralikumar Organizations: Mitsubishi UFJ Financial, MUFG Bank, REUTERS, Rights, Bank of, Bank of Japan, Reuters, Thomson Locations: Tokyo, Japan, U.S

☆ Dollar eases from 10-month high but on track for weekly gain
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar index eased from a 10-month high on Thursday but remained on track for a weekly gain, and investors stayed on guard for potential intervention in the yen as it holds near 11-month lows against the U.S. currency. "The dollar in this environment is benefiting from both higher yields but also more jittery risk sentiment," said Vassili Serebriakov, an FX strategist at UBS in New York. "Global yields are rising, but with the U.S. economy outperforming the U.S. dollar still looks attractive." Finance Minister Shunichi Suzuki said on Thursday that Japan would not rule out any options if there was any excessive volatility in currency moves, warning against speculative yen moves amid the currency's fall. The dollar was last down 0.27% against the Japanese currency at 149.23 yen, easing from an 11-month high of 149.71 on Wednesday.

Persons: Vassili Serebriakov, Lee Hardman, Hardman, Austan Goolsbee, Jerome Powell, Shunichi Suzuki Organizations: U.S, Federal Reserve, UBS, ., MUFG, Chicago Fed, Finance Locations: U.S, New York, Europe, Japan

☆ Japan's MUFG Bank, two others lead $290 mln Sierra Space fundraising -Nikkei
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Sept 26 (Reuters) - MUFG Bank is among three Japanese firms leading a $290-million fundraising round for U.S. spaceship company Sierra Space, spearheading a commercial "spaceport" project in the southwestern region of Oita, the Nikkei daily said on Tuesday. A spokesperson of Tokio Marine & Nichido Fire, a unit of Tokio Marine Holdings (8766.T), confirmed that the three companies formed a strategic partnership with Sierra, but declined to elaborate on their investments. Sierra Space, spun off in 20221 from billionaire-owned Sierra Nevada Corp, is among a handful of space industry players attempting to build a private space station that NASA hopes will replace the two decade-old International Space Station by 2030. The Oita project took a hit this year from the bankruptcy of another U.S. space company Virgin Orbit , which had partnered with airline ANA Holdings (9202.T). MUFG Bank, one of Japan's three biggest, has invested in domestic space startups such as orbital debris-removal firm Astroscale.

Persons: Sierra, inc's, Kantaro Komiya, Clarence Fernandez Organizations: MUFG, Space, Nikkei, SpaceX, MUFG Bank, Tokio Marine, Tokio Marine Holdings, Sierra, Mitsubishi UFJ, Kanematsu Corp, CNBC, Sierra Nevada Corp, NASA, Japan Airlines, Orbit, ANA Holdings, Mitsui Sumitomo Insurance, Japan Aerospace Exploration, SLIM, Thomson Locations: TOKYO, Oita, Sierra, Kanematsu, Asia's, Japan

☆ Sierra Space raising nearly $300 million from Japanese consortium at $5 billion valuation
▼ + stars: | 2023-09-25 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Sierra Space, the subsidiary of private aerospace contractor Sierra Nevada Corporation, is finalizing a raise of nearly $300 million, CNBC has learned. Sierra Space expects to announce the raise as soon as this week, those people said. Two years ago, Sierra Space raised $1.4 billion at a $4.5 billion valuation from investors including General Atlantic, BlackRock, AE Industrial Partners, Coatue and Moore Strategic Ventures. The fresh funds come as Sierra Space focuses on getting its Dream Chaser spaceplane flying. Sierra Space is also one of several companies working on a private space station.

Persons: MUFG Organizations: Space, Sierra Nevada Corporation, CNBC, Sierra, Tokio Marine, Citigroup, General Atlantic, Partners, Coatue, Moore Strategic Ventures, NASA Space Shuttle, United, Vulcan Locations: Tokio, BlackRock

☆ Stock futures are flat as the market heads for big weekly losses: Live updates
▼ + stars: | 2023-09-21 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Traders on the floor of the New York Stock Exchange, Aug. 4, 2022. Stock futures were flat in overnight trading Thursday as the market is poised to end the week with steep losses. S&P 500 futures and Nasdaq 100 futures were also flat. The benchmark 10-year Treasury yield popped 15 basis point to hit a high of 4.498%, its highest level since 2007. Investors also became concerned about a government shutdown, which could dent consumer confidence and slow down the economy further.

Persons: Bond, George Goncalves Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Federal Reserve, Dow, Treasury, House Republican

NEW YORK (Reuters) -U.S. Steel Corp is locked in a spat with rival steelmaker Cleveland-Cliffs Inc over a confidentiality pact that would allow the latter to participate in a sale process that is underway, people familiar with the matter said on Wednesday. U.S. Steel has made the standstill a condition to allowing Cliffs to carry out due diligence and participate in its sale process, the sources added. It has also told Cliffs that all bidders are being granted access to its sale process on the same terms, according to the sources. Reuters has reported that ArcelorMittal is one of the parties that has been working on a potential bid for U.S. Steel. Cliffs would break into the world’s top 10 steel producers, which are mostly from Asia, should its bid for U.S. Steel succeed.

Persons: steelmaker, David Lawder, ArcelorMittal, Steel, Thomas Conway, Lourenco Goncalves Organizations: YORK, . Steel Corp, Cliffs Inc, REUTERS, U.S . Steel, . Steel, JPMorgan, UBS, MUFG, Truist Securities, Reuters, U.S, Steel, United Steelworkers, Wall, United Auto Workers, UAW Locations: steelmaker Cleveland, Granite City , Illinois, Wells Fargo, Asia

Yet in Europe, sterling came under pressure after data showed Britain's high inflation rate fell unexpectedly in August, prompting speculation that the Bank of England could pause its historic run of interest rate hikes as soon as Thursday. Two-year Treasury yields were down 3.5 basis points in London trade at 5.07%, having risen sharply on Tuesday, when five- and 10-year Treasury yields reached 16-year highs. World stock markets were edging higher ahead of the Fed rate decision. UK gilt yields fell sharply as investors slashed bets for a rate hike on Thursday, with two-year yields last down over 14 bps at 4.85% . "Combined with their recent dovish commentary, we now expect the MPC to keep Bank Rate unchanged tomorrow and lower our forecast for the terminal policy rate to 5.25%," Stehn and co. added.

Persons: DAX, Kai Pfaffenbach, Jerome Powell, Lee Hardman, Sterling underperformed, Goldman Sachs, Sven Jari Stehn, Stehn, Masato Kanda, Eugene Low, Dhara Ranasinghe, Samuel Indyk, Tom Westbrook, Toby Chopra, Chizu Organizations: REUTERS, Sterling, U.S, Treasury, Federal Reserve, Bank of England, Brent, Federal, Fed, Japan's Nikkei, MPC, Monetary, Bank of, New Zealand, Thomson Locations: Frankfurt, Germany, Europe, Saudi Arabia, Russia, U.S, London, Sweden, Switzerland, Norway, Britain, Japan, Asia, Pacific, Hong Kong, China, Singapore

☆ Kioxia's banks to refinance $13.5 bln loan for Western Digital merger -Bloomberg
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

Sumitomo Mitsui Financial Group (8316.T), Mizuho Financial Group (8411.T) and Mitsubishi UFJ Financial Group (8306.T) intend to submit a commitment letter for the refinancing next month, Bloomberg reported citing unnamed sources. Part of the loan will be used to pay special dividends to Kioxia's shareholders, Bloomberg said. Of the 2 trillion yen loan, 400 billion yen will likely be funded through loan commitments and the Development Bank of Japan will provide a loan of 300 billion yen. The rest will likely be equally split between the three megabanks, Bloomberg reported. Kioxia and Western Digital are speeding up merger talks and nailing down a deal structure, Reuters reported in May, amid a slump in the market for flash memory.

Persons: Kioxia, Kiyoshi Takenaka, Sam Nussey, Makiko Yamazaki, Edwina Gibbs Organizations: Taipei, REUTERS, Rights, Western, Bloomberg, Sumitomo Mitsui Financial Group, Mizuho Financial Group, Mitsubishi UFJ Financial, Kioxia, Mizuho, MUFG, Development Bank of Japan, Western Digital, Reuters, Thomson Locations: Taipei, Taiwan

☆ Euro gains, yen struggles in central bank-packed week
▼ + stars: | 2023-09-19 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

A Reuters report on Monday citing six sources said the debate over the multi-trillion-euro pool of excess liquidity sloshing around banks was likely to start next month. However, this might not be enough to give the euro a more sustained boost, according to Lee Hardman, a strategist at MUFG. "While the ECB’s reported plans to tighten excess liquidity in the euro area have helped to support the euro, they are unlikely to be sufficient on their own to turn the current weakening trend," he said. This week brings a raft of central bank meetings, including those of the Federal Reserve, the Bank of Japan, the Bank of England and the Swiss National Bank, among others, which kept currency volatility on the subdued side. In other currencies, sterling edged up 0.1% at $1.2398, ahead of an interest rate decision from the BoE on Thursday.

Persons: Dado Ruvic, Lee Hardman, Kazuo Ueda, Rodrigo Catril, Erik Weisman, BoE, Rae Wee, Lincoln, Peter Graff, Hugh Lawson Organizations: REUTERS, European Central Bank, Reuters, ECB, Federal Reserve, Bank of Japan, Bank of England, Swiss National Bank, National Australia Bank, NAB, U.S, Fed, MFS Investment Management, Thomson Locations: U.S

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